Low Income Apartments For Rent in Rio Rancho, NM

Rental assistance programs support 0 low-income homes in Rio Rancho where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $407 towards rent each month.

Affordable rent data for some communities last confirmed on June 7th, 2024. Subdsidized rents typically change once a year based on federal guidance.

Public Housing Agencies Serving Rio Rancho, New Mexico

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Housing Authority	Programs
Bernalillo County Housing Department	Section 8 Housing Choice Voucher (HCV); Public Housing; Veteran Affairs Supportive Housing (VASH); Family Unification Program (FUP)

Go to the New Mexico Public Housing and Low-Income Apartments Waiting Lists page for openings near Rio Rancho.

Rio Rancho, New Mexico Affordable Housing Data

Income Based Apartments in Rio Rancho, New Mexico

Rio Rancho features 0 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Rio Rancho, New Mexico

There are 476 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Rio Rancho.

Housing Choice Vouchers in Rio Rancho, New Mexico

On average, Section 8 Housing Choice vouchers pay Rio Rancho landlords $700 per month towards rent. The average voucher holder contributes $400 towards rent in Rio Rancho.

The maximum amount a voucher would pay on behalf of a low-income tenant in Rio Rancho, New Mexico for a two-bedroom apartment is between $1,100 and $1,344.

2024 Rio Rancho, New Mexico Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

	Studio	One BR	Two BR	Three BR	Four BR
Rio Rancho, New Mexico Fair Market Rent	$828	$1,005	$1,222	$1,722	$2,064
Rio Rancho, New Mexico Payment Standard Range	$745 to $911	$905 to $1,106	$1,100 to $1,344	$1,550 to $1,894	$1,858 to $2,270

Sourced from federal housing data and AffordableHousingOnline.com research.

Rio Rancho, NM Affordable Housing Snapshot

Total Affordable Apartment Properties 3

Total Low Income Apartments 476

Total Housing Units with Rental Assistance 0

Percentage of Housing Units Occupied By Renters 21.31%

Average Renter Household Size 2.87

Average Household Size 2.81

Median Household Income $60,893 ±$1,753

Median Rent $1,071 ±$46

Percentage Of Renters Overburdened 47.63% ± 4.66pp

Total Population 91,807

Total Affordable Apartment Properties	3
Total Low Income Apartments	476
Total Housing Units with Rental Assistance	0
Percentage of Housing Units Occupied By Renters	21.31%
Average Renter Household Size	2.87
Average Household Size	2.81
Median Household Income	$60,893 ±$1,753
Median Rent	$1,071 ±$46
Percentage Of Renters Overburdened	47.63% ± 4.66pp
Total Population	91,807

Population and Household Demographics

Rio Rancho is a city in Bernalillo County, New Mexico with a population of 91,807. There are 32,511 households in the city with an average household size of 2.81 persons. 21.31% of households in Rio Rancho are renters.

Income and Rent Overburden in Rio Rancho

The median gross income for households in Rio Rancho is $60,893 a year, or $5,074 a month. The median rent for the city is $1,071 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Rio Rancho, a household making less than $3,570 a month would be considered overburdened when renting an apartment at or above the median rent. 47.63% of households who rent are overburdened in Rio Rancho.

Area Median Income In Rio Rancho

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Rio Rancho, the AMI is calculated from all households within Bernalillo County.

In Rio Rancho, HUD calculates the Area Median Income for a family of four as $86,500

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Rio Rancho

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for HUD Rental Assistance in Rio Rancho

	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
30% AMI Income Limits Renters earning up to 30% of the Rio Rancho AMI may qualify for rental assistance programs that target Extremely Low Income households.	$16,800	$19,720	$24,860	$30,000	$35,140	$40,280	$45,420	$50,560
50% AMI Income Limits Renters earning up to 50% of the Rio Rancho AMI may qualify for rental assistance programs that target Very Low Income households.	$28,000	$32,000	$36,000	$39,950	$43,150	$46,350	$49,550	$52,750
80% AMI Income Limits Renters earning up to 80% of the Rio Rancho AMI may qualify for rental assistance programs that target Low Income households.	$44,750	$51,150	$57,550	$63,900	$69,050	$74,150	$79,250	$84,350